Economy of Kazulia
The Economy of Kazulia remains as one of the largest economies on Terra. Despite mismanagement and neglect by governments, Kazulia has held its quite high position on economic matters in Terra. Historically, the Kazulian economy has been experiencing growth since the times of the modern Kazulian state, especially after conquering the fertile lands to its east which now form the Kazulian colonial possessions. Despite its high and promising economical performance, it is not a place often named for investors or rich citizens, and wealth is distributed among everyday citizens, although this is slowly changing as both economist and politicians realise how unhealthy this is to economic growth and competitiveness in the economy. Historical Development While a colony, Kazulia became extremely successful due to its fur trade as well as production of wood and everyday goods. Once Kazulia expanded its territory to the East, Kazulian settlers undertook farming which became the basis of the modern Kazulian economy. Despite a harsher Northern Climate, the summer and spring temperatures are enough for substantial agricultural growth and export of this product. Slowly but steadily, the Kazulian economy successfully progressed, however it hit frequent financial crisis which would later form massive foreign debt in countries like Luthori, or Hulstria. Quick recoveries were made, however this problem has persisted until modern economic policies and economic systems - especially Social Democracy, solved the majority of the problem and allowed Kazulia to become one of the richest nations on Terra. Overview The center of Kazulian economics is small to moderate businesses, as well as overall private owned enterprises. The private sector, having a decisive majority in the Kazulian economy set economic production, as well as the scale of the Kazulian economy - however there is government intervention. Promotion of inventions as well as ideas, the Kazulian economy from its earliest days has been innovative and problem solving which allows for export of Kazulian inventions, as well as other projects made by Kazulians.Being united by transportation and water systems, Kazulia has a well integrated economy with regions dependent on each other and economic cooperation between the individual regions. This is met with government overview and regulation to ensure fairness and that law is followed properly. The state has large ownership positions in key industrial sectors, such as the strategic petroleum sector, hydroelectric energy production, aluminum production, the largest Kazulian bank and telecommunication provider. The government controls 31.6% of publicly-listed companies. When non-listed companies are included the state has even higher share in ownership (mainly from direct oil license ownership). As a result, the public sector grew as a percentage of the overall economy. Highly progressive income taxes, the introduction of value-added tax, and a wide variety of special surcharges and taxes made Kazulia one of the most heavily taxed economies in the world. Authorities particularly taxed discretionary spending, levying special taxes on automobiles, tobacco, alcohol, cosmetic items, and so on. Kazulia's long-term social democratic policies, extensive governmental tracking of information, and the homogeneity of its population lent themselves particularly well for economic study, and academic research from Kazulia proved to make significant contributions to the field of macroeconomics during this era. When Kazulia became a petroleum-exporting country, the economic effects came under further study. Sectors Agriculture Agriculture has been an important and key element of the Kazulian economy for decades. Named the breadbasket of the world, Kazulia produces a majority of fruits and vegetables of the world and above all wheat. Due to a small population in proportion to the size of the nation and production of fruits, vegetables and wheat, Kazulia actively exports food related products to many different areas of the world. Animal husbandry constitutes the second most important component of agricultural production. Kazulia is the world's leading producer of pigs, chickens, and eggs, and it also has sizeable herds of sheep and cattle. Since, greater emphasis has been placed on increasing the livestock output. Kazulia has a long tradition of ocean and freshwater fishing and of aquaculture. Pond raising has always been important and has been increasingly emphasised to supplement coastal and inland fisheries threatened by over-fishing and to provide such valuable export commodities as prawns. The vineyards of Northern Hent are considered to produce some of the most finest wines in all of Terra. Mining Mining has been an important industry in Kazulia. Already in early colonial times many different minerals have been found and due to its size, Kazulia has one of the largest coal, iron ore, oil, gas, gold and diamond reserves. Many of these minerals have been exploited, exported and still researched. Until recently, coal, oil and gas remained internally in the country with very little export. However, due to ecological legislation this has been in constant change and countries reliant on coal, oil or gas have been becoming important export partners for Kazulia. As such, the industry is still developing however this is a key point of the Kazulian economy as it employs in fact millions of people and allows for profit. Shipbuilding Although it possess a small coastline compared to other nations, the shipbuilding industry in Kazulia is highly specialised. In colonial times, large forests bore excellent wood for ship building while now, modern ship building dots the Kazulian coast from all sides. Kazulia has exported cruise ships as well as military ships and private ships. Private defence industries have been able to produce technologically advanced military ships with serve in many of Terra's navies, while Kazulia has built the largest Cruise Ships in the world to date. 'Defence Manufacturing ' Kazulia is the largest weapons manufacturer in the eastern hemisphere and the third largest in the northern hemisphere after Trigunia and Hutori, surpassing the arms industries of Indrala and Kalistan combined. According to the International Peace Institute,of the 10 most influential companies in the eastern hemisphere, two of them are Kazulian Defence Companies; Asvald Gruppen and Viserby Defence Cooperative. Due to the nation's specialisation in the field of science and technology, the nation has zoomed into the arms manufacturing industry with ease. Category:Kazulia